L+M chief financial officer leaving New London for post at Maine's largest hospital

New London — Lou Inzana, chief financial officer at Lawrence + Memorial Hospital for the past six years, is leaving to become senior vice president and chief financial officer at Maine Medical Center.

The 637-bed hospital in Portland is the largest hospital in Maine, with a budget three times L+M's and staff of 6,500 people, more than twice the number of L+M.

The move was announced Tuesday both by Maine Medical Center and by L+M in an internal email to staff.

"It's a tremendous opportunity to work in an environment with academic teaching and research divisions and at a larger scale than L+M," Inzana said. "The timing is bad, but obviously people don't do CFO searches in a couple of weeks."

Maine Medical Center is affiliated with Tufts University School of Medicine and also trains residents and fellows from other schools including Dartmouth and Vermont Medical School.

He said he applied for the job in the fall and that his decision had no relationship to the current labor dispute between L+M and the union representing about 800 nurses and technicians. When he applied for the position in the fall, he said, "there were no labor issues."

"I don't want people to take this the wrong way," said Inzana, a 52-year-old Pawcatuck resident. "This is a step up in my career ladder. I love and have put my heart and soul into L+M for the six years I've been here. But an offer was made and this is a once-in-a-lifetime offer for a prominent position at one of the most prestigious institutions in New England."

L+M spokesman Mike O'Farrell said the hospital will retain a recruiting firm to conduct a national search for a replacement for Inzana, who earns salary and benefits of about $432,000 annually. Inzana will begin his new duties in Maine on March 3, allowing for a three-month transition before the CFO there retires in June.

In a news release, Richard Petersen, president and chief executive officer of Maine Medical Center, said Inzana has "a great track record of success in his past organizations." Before coming to L+M, Inzana was vice president and chief financial officer for Olean General Hospital in Olean, N.Y., and vice president of finance and chief financial officer for Jones Memorial Hospital in Wellsville, N.Y.

"Lou Inzana has the comprehensive financial management skills necessary, along with a similar set of personal values that makes him a good cultural fit for Maine and Maine Medical Center," Petersen said.